Rexford Industrial Realty, Inc. | May 06, 2020
Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located in Southern California infill markets, today announced the acquisition of an industrial property for $21.0 million. The acquisition was funded using cash on hand. "We continue to leverage our deep market relationships and proprietary originations platform to source attractive, off-market opportunities in Southern California's infill industrial market," stated Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of the Company. "Located within the highly supply-constrained LA – Central submarket, Flotilla Street represents a highly-functional, prime infill location positioned to drive significant cash flow growth as the in-place rent is estimated to be substantially below-market with a near-term expiration. Looking forward, we remain pleased with our pipeline of internal and external growth opportunities, enabling us the opportunity to drive cash flow growth and value for our shareholders."
REAL ESTATE TECHNOLOGY
prnewswire | December 16, 2020
Paymints.io, a North Carolina based SaaS stage to move assets for land transactions, just arrived at an industry-first achievement by utilizing its foundation to dispense assets back to the customer.
The stage, which authoritatively dispatched toward the finish of Q3, 2020, is revolutionizing the business' method of trading installments during home purchasing and renegotiating measures. Worked by a group of specialists in innovation, land, loaning, and title protection, the group at paymints.io distinguished a vast opening in the moving of assets for sincere cash stores and money to close on renegotiates. As a large portion of the home purchasing venture has been digitized, moving assets or making installments is as yet done disconnected by paper checks or excursions to the bank to send a wire.
Changing How Money Moves
With the appearance of paymints.io, gone are the times of realtors minding checks or title organizations sitting tight for wires that never show up. The paymints.io solution permits the home purchaser to safely and electronically move assets by connecting their financial records to the stage and moving assets straightforwardly into the land business or title organization's escrow account. The customer entry and administrator dashboard give constant following of the exchange so both the customer and the escrow holder knows precisely where the assets are consistently.
"As experienced operators of a real estate tech company, we're hyper focused on the client experience," says Jason Doshi, Co-Founder of paymints.io. "Looking at the current client journey, it's easy to identify the gaps which drive the client offline and eventually disrupt an otherwise digital experience. The paymints.io solution meets the client at their needs but also offers efficiencies to the real estate brokerages and title companies which is why we feel it has gained so much traction, so early on. It's just what the industry needed!"
REAL ESTATE TECHNOLOGY
businesswire | December 09, 2020
Alex. Earthy colored Realty, Inc. (ABR) and their joint endeavor accomplice, Continental Realty Group, through its auxiliary Continental Realty Assets, Ltd. (CRA), are satisfied to declare the obtaining of Club at Stone Oak Apartments, a 250-unit loft network in San Antonio, Texas. ABR Chesapeake Fund VI, a worth add land reserve supported by ABR, put $7.3 million in the joint endeavor.
Inherent 2005, the network incorporates a blend of one-, two-and three-room units with 9' roofs and private porches and overhangs. Comforts incorporate a clubhouse with billiards table, best in class wellness focus, resort-style pool, business focus, outside kitchen, and renting focus. The gated network additionally offers sufficient leaving with withdrew carports, garages, and a vehicle care focus. The joint endeavor designs an essential remodel program for the unit insides and focused on upgrades to the regular territories and pleasantries.
“Even given the economic challenges and uncertainties of today, we are believers in the San Antonio market due to its diversified and expanding employment base coupled with the relative affordability and quality of life it has to offer,” said Robert Ireland, CRA’s Managing Director of Investments. “The Club at Stone Oak is a quality asset located within one of San Antonio’s premier submarkets and fits within our investment strategy of providing a quality product at an affordable price to our residents,” added Ireland.
“We were pleased when Continental first brought us this off-market opportunity and are excited to be partnering with them,” stated Tom Burton, ABR’s Senior Managing Director and CIO. “Their extensive experience within the multifamily sector should bode well for the asset and provide a positive result for our investors.” Club at Stone Oak represents the first transaction between ABR and CRA.